Patek Philippe Calatrava Two-Tone Dial ref. 1527 in 18k Yellow Gold, 1940

Dealer description — Bulang & Sons

Introduced in 1932 with the iconic Reference 96, the Patek Philippe Calatrava stands as the ultimate dress watch — a benchmark of timeless elegance and refined restraint. Created following the Stern family’s acquisition of Patek Philippe during the Great Depression, it embodied a new vision of understated sophistication that continues to define high watchmaking today. The original Ref. 96 marked a decisive shift away from ornate pocket watches toward a modern, elegant, and functional wristwatch, perfectly suited to its era and beyond. In total, over 230 different Calatrava references have been produced since its introduction in 1932. Presented here is a 1940s Reference 1527, housed in a 33.5 mm yellow-gold case with a snap-back caseback and long, elegantly elongated lugs that allow the watch to wear larger on the wrist while maintaining exceptional balance and grace. The caseback features charming hand engraving, which we believe to be a stylized “MCA.” The two-tone silver dial is a study in elegant detail, featuring an enamel minute track and a brushed silver inner ring. Applied Roman numerals at 12, 3, and 9 o’clock are complemented by fine “bullet” markers for the remaining hours, creating a harmonious and highly legible layout. At 6 o’clock sits a small running seconds sub-dial, executed in enamel printing and, surprisingly, rendered in a deep, rich dark blue color — a rare and captivating detail that elevates the dial further. The iconic “Patek Philippe & Co Genève” enamel signature completes the composition exactly as one expects from a true Calatrava. Unlumed stick hands preserve the watch’s pure dress-watch character, and the piece is paired with one of our Bulang & Sons leather straps for a perfectly considered finish. The hand-wound Caliber 12-200 has been fully serviced by our watchmaker and is ready to be worn and enjoyed for many years to come. This is an exceptional opportunity to acquire a beautifully preserved, highly elegant example of what is, in our opinion, the most important dress watch ever made: the Calatrava. Get in touch. Specifications: Patek Philippe Calatrava Reference 1527 33.5 mm 18k yellow gold case with elongated lugs Two tone silver dial with applied Roman numerals and non-lumed hands and small seconds Seldom seen enamel in blue colour Case back stylish engraved 'MCA” Bulang and sons Leather strap Calibre 12-200 hand wound movement Case number 645xxx, 929xxx movement number , dating to the 1940’s Fully serviced by our watchmaker